Can we apply to more than one company at a time?

mitt123

We have recently been declined by nationwide. Our MA spoke to halifax before applying and as my husband is self employed our application would always need to go to an underwriter for review. Currently with halifax is 8 working days. I wondered could he apply to more than 1 company at a time, so at least if halifax say no we wont have to wait another few weeks to hear from another company? Im worried our chain will collapse because of our long delay

mathdotrandom

I think you can apply to as many as you want, however, you will need to cover any fees for each and of course each application adds credit searches to your file, which then might put other lenders off. I think there is someone on the awaiting mortgage decision thread that has applied to two lenders at the same time. I know there are a number of mortgage advisors on here though who would be better suited to advise you on this. 

ACG

You can... but dont. 
There are various fraud systems in place that lenders all sign up to. Making multiple applications can look dodgy as it is not normal - even if you have your reasons. 

Added to that, mortgage lenders can do more than one credit check on you. More credit checks can affect how your application scores. If it referred now, what will it do if you go and do another one or 2 credit checks with different lenders? 

amnblog

On no account apply in two places at once for the reasons stated above.
Besides which, 8 working days to review a case is the going rate in the current market.

MaryNB

There was some poster on MSE who made three mortgage applications, didn't follow through with them and then ended up with Cifas markers on his file. While he didn't intend to commit fraud and there was no evidence he did anything malicious (just careless), didn't matter. If the banks are suspicious, they won't deal with someone. A Cifas marker is really bad. He really shot himself in the foot. 

davidmcn

MaryNB said:

There was some poster on MSE who made three mortgage applications, didn't follow through with them and then ended up with Cifas markers on his file. While he didn't intend to commit fraud and there was no evidence he did anything malicious (just careless), didn't matter.

Not sure how "careless" he was, assuming you're talking about the one who had also been careful enough to instruct a separate firm of solicitors in relation to each application.

xMeganCL

How long did nationwide take to tell you you had been declined? 

mitt123

8 working days. Then we appealed, which took a further 48 hours. Our MA rechecked and we still fit the criteria 🙈🙈🙈

mitt123

Oh just to clarify, this was for dip not full application!

MaryNB

davidmcn said:

MaryNB said:

There was some poster on MSE who made three mortgage applications, didn't follow through with them and then ended up with Cifas markers on his file. While he didn't intend to commit fraud and there was no evidence he did anything malicious (just careless), didn't matter.

Not sure how "careless" he was, assuming you're talking about the one who had also been careful enough to instruct a separate firm of solicitors in relation to each application.

Haha oh yeah I forgot about that. Just bizarre. 

csgohan4

MaryNB said:

There was some poster on MSE who made three mortgage applications, didn't follow through with them and then ended up with Cifas markers on his file. While he didn't intend to commit fraud and there was no evidence he did anything malicious (just careless), didn't matter. If the banks are suspicious, they won't deal with someone. A Cifas marker is really bad. He really shot himself in the foot. 

https://forums.moneysavingexpert.com/discussion/6163507/unfair-fraud-markers-placed/p1

there you go, I kept that  in case a thread like this appears